William Henderson and B. McGraw talk about housing costs and zoning. Why is the cost of housing continuing to rise? Is it because of investors buying up all the housing? Or are there bigger issues involved? What policies would help fix the problem? This is Part 1 of 3 episodes.
We discuss the international picture of housing affordability, and where the US stands in comparison. Additionally, we look at how inflation adjusted prices per square foot have not actually gone up as much as expected. We then discuss generational differences in home ownership. Then we talk about zoning codes, investor ownership, corporate ownership, and luxury apartments. We talk at length about how the primary cause of higher home prices is zoning codes: between policies like lot minimums, setback requirements, parking minimums, single family zoning, single use zoning, and more, there is a serious decrease in supply on the market, which increases prices.
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3:49 International housing affordability comparison
4:15 OECD housing affordability comparison
6:39 International home ownership (Please check notes & references section of wikipedia page)
11:19 Price to income ratio
12:11 Inflation, square footage
13:26 Household wages income adjusted
15:39 Home ownership by generation
17:27 Millennials more savings
19:10 History of zoning codes
22:26 Increase in investor ownership
23:15 Corporate ownership
28:07 Rental vacancy rates
30:23 Why many new build apartments are luxury apartments
31:26 Luxury apartments help lower overall rents in a city (Link 2) (Link 3)
36:07 Strong towns
36:55 Upzoning increases housing supply
37:16 Parking minimums
39:49 Effect of lot size minimums
40:17 Density regulations and housing prices
40:50 Lot minimum size and number of new building permits
41:40 30 year mortgage
This is the Unjerked Podcast